Best Value Electric SUVs Under £40,000 Best Value
The electric SUVs that deliver the most for your money — scored on total cost of ownership, not just sticker price.
Value in the electric SUV market is not simply about buying the cheapest car. A £28,000 EV with poor real-world range, high insurance costs, and a patchy charging network may cost you more over three years than a £38,000 rival that is cheaper to run, better to live with, and stronger to sell on.
For this guide, we have assessed every pick on total cost of ownership over three years: purchase price, depreciation, charging costs, servicing, insurance, and road tax combined. The best value electric SUV is the one that costs least to own in total — not just to buy.
All picks sit at or below £40,000 on the new car price list. Used examples are available at substantially lower prices, and we have noted where the used market makes particularly compelling cases.
Key takeaways
Best overall value
Volkswagen ID.4 Pro — strong range, practical family SUV, and available from under £11,000 used.
Best technology for the money
Hyundai IONIQ 5 — 800V charging and a genuinely premium feel at a mid-market used price.
Best to drive
Kia EV6 — shares the IONIQ 5's best tech but more engaging, from under £12,000 used.
Best charging network value
Tesla Model Y RWD — Supercharger network access makes it the most practical choice for drivers without home charging certainty.
Best budget new car value
MG ZS EV — lists from £26,995 new, competitive range, and strong five-year warranty.
Volkswagen ID.4 — the rational choice
The ID.4 Pro's 77kWh battery delivers up to 339 miles WLTP — the longest official range of any electric SUV under £43,000 new. Real-world motorway range of 250–270 miles is competitive. The interior is practical, spacious, and logically laid out, with 543 litres of boot space.
Where the ID.4 excels on value is the used market. With over 500 listings on Bobi, it is one of the most accessible electric SUVs in the UK. Post-2022 examples with the updated software — which fixed the majority of early infotainment complaints — can be found from around £11,000–13,000. At that money, the cost-per-mile equation is compelling.
The downside: 135kW maximum DC charging speed is slower than Korean rivals, and the ID.4 is not a particularly engaging drive. But for buyers who prioritise total cost of ownership over driving dynamics, it is hard to argue with the numbers.
For an even tighter budget, see our guide.
Hyundai IONIQ 5 — the tech-value sweet spot
The IONIQ 5 offers 800V ultra-rapid charging in a car that now starts from around £13,000 used. That technology — which enables 10–80% charging in approximately 18 minutes at a compatible charger — was a £40,000+ proposition when the car launched in 2021. Depreciation has made it accessible at a price point that genuinely changes the value calculation.
The 77.4kWh Long Range version offers 315 miles WLTP. Even the 58kWh standard range at 238 miles WLTP is sufficient for most UK drivers who charge at home. The interior is spacious and genuinely well-designed, the ride is comfortable, and running costs are low.
Insurance is the one consistent caveat — the IONIQ 5 sits in a higher insurance group than the ID.4 or MG ZS EV. Factor that into your three-year cost calculation before committing.
Kia EV6 — value with a driver's edge
The EV6 shares the IONIQ 5's E-GMP platform and 800V charging architecture but packages it in a lower, sportier body. For buyers who want the IONIQ 5's technological advantages but find the upright styling too polarising, the EV6 is the natural alternative.
Used prices for 2022 Air variants start from around £11,800–12,500. The Air trim is well-equipped for the money: heated front seats, an 8-inch driver's display, Apple CarPlay and Android Auto, and the full 800V charging capability. The GT-Line S adds sportier styling and a larger touchscreen but costs £4,000–6,000 more used.
One consideration: the EV6 Air uses the 77.4kWh battery but is limited to 50kW DC charging in some early configurations. Check the specific car's charging capability before buying if rapid charging speed matters to you.
Tesla Model Y RWD — the network play
At around £15,990–17,000 used for a 2022 example, the Model Y RWD sits at the higher end of this guide's used price band. But the Supercharger network argument holds even at the sub-£40,000 price point: if your primary concern is long-distance usability and you want the most reliable public charging experience available in the UK, the Model Y delivers it.
For home-charging buyers doing predictable daily mileage, the IONIQ 5 or ID.4 may offer better overall value. For drivers who travel regularly and want to minimise journey planning friction, the Tesla's network advantage is worth the premium over Korean rivals.
Insurance is high — one of the highest in this group. Tyre wear is also above average. Neither is a dealbreaker, but both need to be in your three-year cost calculation.
MG ZS EV — the budget new car case
If buying new within a £40,000 budget is a priority, the MG ZS EV is the most straightforward choice. It lists from £26,995 new, undercutting Korean and German rivals by £8,000–15,000, and comes with a seven-year, 80,000-mile manufacturer warranty — the strongest standard warranty in the segment.
Range on the 72.6kWh version is up to 273 miles WLTP. Real-world figures are closer to 200–220 miles at motorway speeds — adequate for most UK drivers, limiting only for regular long-haul journeys. Maximum DC charging speed is 76kW, which is slower than the Korean competition but faster than the original ZS EV.
The interior is functional rather than inspiring, and refinement at motorway speeds trails more expensive rivals. But at £26,995 new with a comprehensive warranty, the value proposition is straightforward and the running costs are genuinely low.
Side by side
- Used from~£11,000
- Boot Space543L
- Max Charge135kW
- WLTP Range339 miles
- ✓Longest range in class
- ✓Practical family SUV
- ✓Cheap used
- ✓Low insurance group
- −Slow charging vs rivals
- −Uninspiring to drive
- −Early software issues
- Used from~£13,000
- Boot Space527L
- Max Charge220kW
Frequently asked questions
The Volkswagen ID.4 Pro offers the best overall value on a total cost of ownership basis — class-leading range, a practical interior, low running costs, and strong used availability from around £11,000. The Hyundai IONIQ 5 offers the best technology for the money, while the MG ZS EV is the best value new car under £40,000.
For home-charging drivers who regularly use rapid chargers for long journeys, yes — the 800V charging advantage of the IONIQ 5 and EV6 saves meaningful time. For primarily home-charging drivers doing short to medium journeys, the ID.4's slower 135kW charging is rarely a practical limitation.
Used 2021–22 VW ID.4 examples are available from around £10,989–11,500 on Bobi. Post-2022 examples with updated software are slightly more, typically £13,000–16,000 depending on spec and mileage.
The ZS EV has a broadly positive reliability record among UK owners, and MG's seven-year, 80,000-mile warranty provides significant protection. Concerns around long-term resale value and parts availability for Chinese-brand EVs remain a consideration, though MG's growing UK presence is addressing the latter.
Total cost of ownership over three years favours the VW ID.4 for most drivers, with its low used price, competitive running costs, and reasonable insurance. The IONIQ 5 and EV6 narrow the gap for drivers who benefit significantly from faster charging. The MG ZS EV wins on new car purchase price alone.
Browse value electric SUVs on Bobi
